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FDIC: The abbreviation for Federal Deposit Insurance Corporation, which is a program established by Congress in 1933, during the worst of the Great Depression, to insure the deposits of failed banks. The FDIC operates much like any private insurance company. It collects insurance premiums from its customers--the banks--in return for the assurance that it will stand behind, or be ready to pay off, any deposits that the banks can't.

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MIDPOINT ELASTICITY FORMULA

A simple technique for calculating the coefficient of elasticity by estimating the average elasticity for discrete changes in two variables. The distinguishing characteristic of this formula is that percentage changes are calculated based on the average of the initial and ending values of each variable, rather than initial values. An alternative technique is the endpoint elasticity formula.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at an auction trying to buy either a lighted magnifying glass or a small, foam rubber football. Be on the lookout for the last item on a shelf.
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Al Capone's business card said he was a used furniture dealer.
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MPP
Marginal Physical Product
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